Daily Press Review - Tuesday, May 21, 2024
African Lion 2024: 20 Years of Military Cooperation Between Morocco and the United States
Under the High Patronage of His Majesty King Mohammed VI, Supreme Commander of the Royal Armed Forces (FAR), Morocco and the United States are jointly organizing the 20th edition of the "African Lion" military exercise, taking place from May 20 to 31, 2024.
This large-scale multinational exercise, which gathers more than 7,000 participants from 20 countries and NATO, aims to strengthen military cooperation among participating countries, promote stability and security in the region, and enhance the interoperability of armed forces.
An official opening ceremony was held on Monday at the headquarters of the Southern Zone General Staff in Agadir, attended by representatives of the participating countries. During this ceremony, the command post exercise scenario and the activities to be conducted were presented.
Major General Mohammed Benlouali, Chief of Staff of the Southern Zone, emphasized that "African Lion 2024" marks 20 years of fruitful cooperation and distinguished partnership between Morocco and the United States. He also praised the mutual trust and common desire of both countries to diversify and develop these military maneuvers.
Source: Le Matin du Sahara
Marsa Maroc: A Planned Investment of 2.4 Billion Dirhams Between 2024 and 2028 to Support Its Growth
Marsa Maroc, a leading port operator in Morocco, is looking towards a promising future with strong growth prospects. By 2028, the company plans to invest 2.4 billion dirhams to enhance its infrastructure and handling equipment.
Marsa Maroc stands out with an attractive risk profile, linked to the diversification of its traffic and the long duration of its port concessions. Transshipment, a rapidly growing activity, already accounts for 25% of the company's revenue in 2023 and offers significant development potential in the coming years.
In 2024, Marsa Maroc will commence major infrastructure works in the ports of Casablanca and Jorf Lasfar. These investments aim to increase the competitiveness of port facilities and meet the growing needs of Moroccan economic operators.
Alongside infrastructure investments, Marsa Maroc is committed to modernizing its handling equipment. The goal is to optimize operational efficiency and provide impeccable service quality to its clients.
Source: Le Matin du Sahara
Banking Indicators in Morocco: Significant Rise in Participatory Financing
According to the latest quarterly bulletin from Bank Al-Maghrib (BAM), banking indicators in Morocco show a positive trend in the first quarter of 2024, except for non-performing loans.
Cash circulation increased by 10.24% in March 2024 compared to March 2023, reaching 400.005 billion dirhams (MAD). Banknotes in circulation rose by 9.42% over the same period.
Demand deposits increased by 2.68% to reach 184.438 MAD, while savings accounts with banks saw a rise of 2.79% to 184.438 MAD. The money supply (M3) grew by 4.43% to reach 1,117.427 MAD.
Outstanding bank credit rose by 6.66% in the first quarter of 2024, driven by a significant increase of 19.2% in participatory financing, which now stands at 29.294 MAD.
Equipment loans recorded an 11.11% increase to 200.014 MAD, while real estate loans slightly increased by 1% to 303.816 MAD. Outstanding housing loans, including participatory housing financing, increased by 1.45% to 244.290 MAD, with a strong growth of 13.32% in participatory financing.
Source: Les Inspirations Eco
SIEL 2024: A Resounding Success with Over 316,000 Visitors
The 29th edition of the International Publishing and Book Fair (SIEL) concluded with highly positive results, drawing a record attendance of over 316,000 visitors, a 32% increase compared to the previous year.
This international event brought together 743 exhibitors from 48 countries, showcasing a rich and varied documentary offering of nearly 100,000 titles across all fields of knowledge.
SIEL served as a genuine platform for promoting books and culture, allowing visitors to discover the latest literary releases, meet authors and publishers, and participate in numerous activities and conferences.
Source: Les Inspirations Eco
Increase in Butane Gas Price in Morocco: Partial Subsidy to Support Direct Social Aid
To supplement the financing of direct social aid in effect for the past six months, the Moroccan government has decided to partially reduce the subsidy on butane gas starting Monday, May 20, 2024.
This already announced and anticipated decision aims to adjust the price of butane gas while continuing to support the most vulnerable households. The subsidy will be reduced by 2.50 dirhams for 3 kg bottles and by 10 dirhams for 12 kg bottles.
This measure is part of the overall direct social aid (ASD) program implemented by the government in December 2023. This program, targeting 3.6 million households, has already facilitated the disbursement of monthly aid until the end of April.
Source: Aujourd'hui le Maroc
Morocco and the World Bank Strengthen Cooperation with "Rapid Response Option" Agreement
Morocco and the World Bank have taken a significant step in strengthening their crisis management cooperation by signing the "Rapid Response Option" (RRO) agreement. This agreement, signed by the Minister of Economy and Finance, Nadia Fettah, and the World Bank's Country Director for the Maghreb and Malta, Jesko Hentschel, will enable Morocco to respond more quickly and effectively to emergencies and provide crucial support to its citizens during crises.
The RRO is an essential World Bank tool to help countries manage crises. It allows client countries to quickly mobilize existing resources within their loan portfolio with the World Bank to finance emergency response actions.
Specifically, Morocco will be able to access up to 10% of undisbursed funds from its loans with the World Bank to finance urgent interventions. This flexibility will allow the government to have immediate liquidity to address the essential needs of populations affected by natural disasters, health crises, or other emergency situations.
Source: Aujourd'hui le Maroc
PPS in Bouarfa: Advocacy for a Development Plan for Border Areas
The Secretary General of the Party of Progress and Socialism (PPS), Mohammed Nabil Benabdallah, visited Bouarfa in the Oriental region to preside over a meeting on the theme "Political, Economic, and Social Developments in Morocco."
Under the slogan "The added value of the opposition is to alert the government and correct deficiencies," Benabdallah reaffirmed the crucial role of the opposition in democratic life. According to him, it is the opposition's duty to highlight the government's shortcomings and propose alternative solutions to improve the country's situation.
Addressing the issue of development in border areas, particularly affected by drought and border closures, Benabdallah called for the adoption of an ambitious regional plan. He cited the example of Al Hoceima, which was transformed through an effective development plan, and urged for this experience to be replicated in other border regions.
The meeting also provided an opportunity for the residents of Figuig to express their concerns about the privatization of their water resources. Benabdallah supported their cause and reiterated his opposition to any measures that would deprive citizens of this vital resource.
Source: Al Bayane
Morocco Shines at the 10th World Water Forum: Hassan II Great Water Prize Awarded to FAO
The 10th edition of the World Water Forum began today in Bali, Indonesia, with a strong Moroccan presence. The event allows Morocco to showcase its expertise and commitments in sustainable water resource management.
The inaugural session of the Forum featured an institutional film highlighting Morocco's actions in the water sector. This documentary aims to strengthen Morocco's image as a major player in the international water community and to emphasize its efforts in sustainable water resource management.
The Moroccan delegation at this global forum includes senior officials from various ministerial departments, leading Moroccan institutions, and key stakeholders in the water sector. This diverse presence demonstrates Morocco's strong commitment to coordinated and inclusive water management.
Source: Al Bayane
African Diplomatic Corps Celebrates Africa Day in Dublin Under the Theme of Diversity and Education
Morocco's ambassador to Ireland, Lahcen Mahraoui, in his capacity as dean of the African diplomatic corps, presided over an event on Sunday in Dublin to mark Africa Day 2024. Organized in partnership with the Ministry of Foreign Affairs and the Dublin City Council, the event brought together several ambassadors and Irish personalities to celebrate the diversity of African cultures and the growing ties between Ireland and the continent.
In his speech, Mr. Mahraoui highlighted Africa's cultural richness, emphasizing the diversity of its artistic expressions and the value of its tangible and intangible heritage. He also recalled the African Union's theme for 2024, "Education, Science, Technology, and Innovation for the Africa We Want to Build," and stressed the importance of education as a key to addressing the continent's challenges in various fields.
Mr. Mahraoui praised Ireland's support for the African continent in achieving the Sustainable Development Goals (SDGs) and expressed his gratitude to the African diaspora living in Ireland for their role in spreading deeply rooted values in African societies and promoting unity, solidarity, and tolerance.
Source: Libération
New Attacks on Moroccan Tomatoes in France: COMADER Condemns and Calls for Peaceful Trade Relations
The Moroccan Confederation of Agriculture and Rural Development (COMADER) strongly condemns the new attacks on Moroccan tomatoes in France, which occurred on May 16, 2024, in Perpignan.
These attacks, carried out by French agricultural organizations targeting Moroccan products under the pretext of unfair competition, are deemed "incomprehensible and fallacious" by COMADER. It reminds that the export of Moroccan tomatoes to France is carried out legally under the agricultural agreement between Morocco and the European Union.
Moroccan tomatoes exported to France comply strictly with the prevailing phytosanitary and quality standards. They undergo stringent sanitary controls by European authorities before being placed on the French and European markets.
COMADER calls on French authorities to act rigorously and take necessary measures to end these unjustified aggressions. It reaffirms its commitment to promoting healthy and peaceful trade relations between Morocco and France, based on respect for international commitments and mutually beneficial cooperation.
Source: L'opinion